Veterum Sapientia Institute Inc

Nonprofit profile at a glance

EIN
852628713
IRS 990 coverage
2023–2023
Forms available
Form 990 2023, Form 990-N 2022
Location
Belmont, NC, USA
Phone
8284688929
Rating
51
Verdict
MIXED
Rating confidence
Moderate
Sector
Specialized Education Institutions

Official website

Reported finances

Revenue
$373,088
Expenses
$345,740
Assets
$110,741
Liabilities
$35,728

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Christopher Owens (Chief Executive Officer)

Highest reported compensation

  • Christopher Owens (Chief Executive Officer): $68,929 total reported compensation
  • Nancy Llewellyn (Co-Founder): $4,887 total reported compensation
  • John Pepino (Academic Dean): $4,517 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To teach living Latin to educators, clergy and lay persons such that they are enriched in knowledge of writings, texts, and traditions of Church gathers and timeless philosophers.

What it reported doing in 2023

On-line Latin instructional courses & tutoring

Operating model

Revenue model
Other-operating. 60% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 47
  • Transparency & Controls: 85
  • Accountability: 23
  • Sustainability: 36
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 46.3%; rating input score 46
  • Program expense ratio: 49.9%; rating input score 50
  • Fundraising efficiency: $11.27 raised per $1 spent on fundraising; rating input score 43; 43rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.3%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0.32; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0.32; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 22.7%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 46.3% of revenue deployed · 49.9% of spending went to programs
  • Governance: 0 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $173K in reported program spending
  • Leadership: top reported pay $69K · 5 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 43/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.